Investors continue to cheer the combined prospects of the two Swiss forex leaders.
Quick update as we continue to follow the Swissquote – MIG Bank acquisition….
It seems, as far as Swiss stock investors are concerned, that 1 + 1 is greater than 2. Swiss online broker Swissquote has seen its shares continue to rise since announcing its acquisition of rival MIG Bank last week (see chart below). In the five trading days since the deal was announced, Swissquote shares continue to be bid up. They now (at Tuesday close) sit at CHF 36.80 per share, 24% above Swissquote’s share price before the acquisition was announced. The first-day-after-the-deal pop was just under 13%, accounting for about half the rise in Swissquote’s share price, but again the shares have continued rising since.
The CHF 36.80 price also sets a new 52 week high for Swissquote stock, and is the highest level the shares have seen since March 2012.
Swissquote one month share price. Source: Google Finance.
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.